Buying a second home

When you have a buyer for your current home and looking to purchase a second home ...
What happens if you don’t have 10% to put down because all your monies are tied up in your first home

You negotiate a smaller deposit e.g. 5% or you take a short term loan to cover what you need.

Thanks

It's called a bridging loan. It's short-term finance used in cases like yours. Interest rates are usually fairly competitive.

Bee